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Nov 28, 2012
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over this fiscal cliff debate. nobody is cutting spending. everybody is talking about taxes. is the gop losing it's soul and principles? >> no one is being serious in it's debate. the fellow from adi is making sound statements. but he is whistling past the graveyard. there is no problem that the obama budget calls for spending giving us a deficit of $1 trillion per year as far as the eye can see. tax cuts didn't cause this. it is spending that caused this. you go to spending. you have the cpo itself is saying the only way to do this is getting obamacare out of there. what are the republicans starting to say? this will destroy the republican party because the party will have lost it soul. what else differentiates it from the party? >> here is the problem. the republicans have been saying for two years that this tax increase would destroy jobs and hope for a recovery. either they were lying then or if they were going along with it. they were lying now. which is it? >> this is interesting to me. why is the media working with the democrats on this very point about taxes. why is t
over this fiscal cliff debate. nobody is cutting spending. everybody is talking about taxes. is the gop losing it's soul and principles? >> no one is being serious in it's debate. the fellow from adi is making sound statements. but he is whistling past the graveyard. there is no problem that the obama budget calls for spending giving us a deficit of $1 trillion per year as far as the eye can see. tax cuts didn't cause this. it is spending that caused this. you go to spending. you have the...
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Dec 19, 2012
12/12
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and then you are going to come into more fiscal cliffs. we didn't cut spending so we are going bankrupt. so how is that going to work out? >> right. and that is what i was thinking as you guys were talking. kicking the can down the road. it is not going to work for markets or businesses. they need sernl ti acertainty. that would be one of the worst case nascenarios to have this. i can you would see money flow out of the market. >> by the way, nancy pelosi wanted $1 million threshhold. everyone went back to the blogs running wild today. i've interviewed her a couple of times. can she get it? >> maybe. let me tell you what, whatever deal goes down, nancy pelosi is going to be the key to making it happen. >> all right we have to get out of here. thank you very much. next up the haeart ache and har good-byes continue in newtown, connecticut. good evening jay. >> reporter: good evening, larry, as you might imagine another rough day here in newtown, connecticut. first graders from sandy hook elementary gathered to bury two more of their classmat
and then you are going to come into more fiscal cliffs. we didn't cut spending so we are going bankrupt. so how is that going to work out? >> right. and that is what i was thinking as you guys were talking. kicking the can down the road. it is not going to work for markets or businesses. they need sernl ti acertainty. that would be one of the worst case nascenarios to have this. i can you would see money flow out of the market. >> by the way, nancy pelosi wanted $1 million...
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Nov 21, 2012
11/12
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we'll have a sudden fiscal cliff? >> i worry about the damage that mighting done in fixing it. you don't think the tax increases that could come at the end of the year and the spending cuts of less 100 build, you don't think those would in deuce a severe recession and everybody on wastreet? >> they are not that big of rate increases so far. welcome to the show and what would you do about it? >> they are proposing letting the bush tax cuts stand for everyone because the top 2%. if you raise them and closing the interest loop hole, fixing the estate tax you come out to $100 trillion in savings. >> serious question, you have a famous name and we welcome you onto the program. do you record that as rich? >> what i regard is irrelevant haven't, the fact of the matter is they represent the bottom of the 2% of easternrners in the country. the question is an interest heihe i interesting one. we have been cherry picking the stories. the fact is that 3% of businesses will be affected by these increases. could be a big three percent though. let me go back to casey mulligan. i believe she i
we'll have a sudden fiscal cliff? >> i worry about the damage that mighting done in fixing it. you don't think the tax increases that could come at the end of the year and the spending cuts of less 100 build, you don't think those would in deuce a severe recession and everybody on wastreet? >> they are not that big of rate increases so far. welcome to the show and what would you do about it? >> they are proposing letting the bush tax cuts stand for everyone because the top 2%....
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May 29, 2012
05/12
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that's the fiscal cliff. spending cuts are fine by me. tax hikes would not be fine. what's your prognostication about getting votes in the house and senate this summer on extending the bush-era tax cuts? >> they want to do it before the election for a real reason. i think it's going to pass easily out of the house but someone like claire mccaskill in missouri running for re-election as a democrat, they want to put the pressure on them to have that vote in the senate because there are also some bruises from december 2010. last lame duck session was very messy. a lot of liberal policy got passed. republicans want to avoid that and make democrats get on the record on the taxes. >> robert costa -- >> larry kudlow. >> -- as always, terrific stuff. now, why should the gop let the democrats dictate a grand fiscal bargain? after all, as i said, mr. costa agrees with me and he actually knows politics. a republican president and senate and house should be able to push their own dynamic pro-growth program. so here now let's talk. we have democratic pollster, 1996 clinton campai
that's the fiscal cliff. spending cuts are fine by me. tax hikes would not be fine. what's your prognostication about getting votes in the house and senate this summer on extending the bush-era tax cuts? >> they want to do it before the election for a real reason. i think it's going to pass easily out of the house but someone like claire mccaskill in missouri running for re-election as a democrat, they want to put the pressure on them to have that vote in the senate because there are also...
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Nov 29, 2012
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the coming tax and fiscal cliff. joining us to talk about this, we're going to get a gop response, senate republican conference chairman john thune of south documeakota. welcome back to the show. "the washington post" runs an editorial today saying it's time for the president to unveil some leadership on entitlement reforms and spending cuts because he hasn't done it. i want to ask you at the president's pep rally today, did you hear any of those leadership reforms on spending and entitlements? >> i certainly didn't and, by the way, good evening, larry, it's nice to be with you again. i don't find myself often agreeing with the editorial page of "the washington post" but this time they had it right. the president right now, the pep rally today is going out again on friday is really a continue ways of the campaign when in fact right now what he ought to be doing is trying to find some common ground with republicans, with congress up here on capitol hill because we've got to do something to avert this fiscal cliff. the
the coming tax and fiscal cliff. joining us to talk about this, we're going to get a gop response, senate republican conference chairman john thune of south documeakota. welcome back to the show. "the washington post" runs an editorial today saying it's time for the president to unveil some leadership on entitlement reforms and spending cuts because he hasn't done it. i want to ask you at the president's pep rally today, did you hear any of those leadership reforms on spending and...
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Dec 7, 2012
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cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best spokesman for conservatism. >> no, no. >> we should put a paul ryan -- we need younger leadership. >> paul ryan came out publicly in support of boehner. that's point number one. secondly, boehner jumped ryan over more senior people to put him as head of the budget committee. that's my second point. and boehner himself is being advised by ryan every step of the way. >> what do you say about this purge then? he's purging people that wants to balance the budget. >> you lost, ron. don't blame boehner. blame the republican party. blame conservatives. jim demint sa
cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best...
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May 8, 2012
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what about this fiscal cliff, ed? help me out. nobody wants to raise taxes i think. there's also spending cuts. and i do not want to unwind the spending cuts, i don't want to reopen it. i think finally there's a sequester, finally we're going to take money out of the the budget. milton friedman said if you lower spending as a shart of gdp, that's a tax cut. why shunned we let the spending cuts go through? >> once you adopt the language of the fiscal cliff, just the voke cab larry itself puts tax increases and spending cuts in the same basket and they're not the same. tax increases first of all have very significant long-term effects on economic growth. spending cuts also have long-term implications for economic growth but they're positive, not negative. so i think the big concern is the keynesian concern, it's that if we raise taxes and cut government spending, we will have short-term declines in economic growth. but the problem is we haven't had any good quarters since the recovery began anyway. >> we spent $850 billion for nothing. this is the worst recovery in pos
what about this fiscal cliff, ed? help me out. nobody wants to raise taxes i think. there's also spending cuts. and i do not want to unwind the spending cuts, i don't want to reopen it. i think finally there's a sequester, finally we're going to take money out of the the budget. milton friedman said if you lower spending as a shart of gdp, that's a tax cut. why shunned we let the spending cuts go through? >> once you adopt the language of the fiscal cliff, just the voke cab larry itself...
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Dec 1, 2012
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even while the fate of our fragile economy hangs in the fiscal cliff balance, for that let's turn to our distinguished guests. peter goodman. he's the huffington post business editor on a former "new york times"man. we welcome back republican congresswoman nan hayworth and haddy heath, senior policy analyst with the independent women's forum. okay. so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of getting ugly about this enemy's list. we've seen this before from him. my proposal is, republicans have to come with a counter offer. right now. there's no point in blasting obama. just a counter offer. i want to read from today's newspaper. this is what mitch mcconnell said. "higher medicare premiums for the wealthy, an increase in the medicare eligibility age, and a slowing of costs of living increases for programs like social security. and then republicans would agree to include more tax revenue in the deal but not from higher tax rates." now, let's just look at this for a second. we'll go to you first, n
even while the fate of our fragile economy hangs in the fiscal cliff balance, for that let's turn to our distinguished guests. peter goodman. he's the huffington post business editor on a former "new york times"man. we welcome back republican congresswoman nan hayworth and haddy heath, senior policy analyst with the independent women's forum. okay. so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of...
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Dec 21, 2012
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republicans want to cut the deficit. the fiscal cliff will do it but in a draconian way. the reality setting in now for americans is we don't want to cut the deficit too fast. even the republicans most ambitious proposal doesn't actually eliminate the debt and cut the deficit in the year 2012 -- 2020. >> tris is the objection from the club for growth and other conservative groups. the fact it doesn't commit to major spending cuts and major growth and most of all to major deficits. if my math is right they're predicting about $8.5 trillion of deficits in the next ten years, of new debt. $8.5 trillion that's a very big number. the source of republican discon tenchts the republicans are really upset you are once again seeing playing out real tax increases now with hypothetical spending cuts later. eventually. maybe. that never happen. and they feel like, i'm sorry. lucy with the football. you've done this way too many time. that's why the base is so unhappy about this. >> you really haven't heard -- i know president obama, particularly on the c.o.l.a.s, the cost of living, h
republicans want to cut the deficit. the fiscal cliff will do it but in a draconian way. the reality setting in now for americans is we don't want to cut the deficit too fast. even the republicans most ambitious proposal doesn't actually eliminate the debt and cut the deficit in the year 2012 -- 2020. >> tris is the objection from the club for growth and other conservative groups. the fact it doesn't commit to major spending cuts and major growth and most of all to major deficits. if my...
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Dec 20, 2012
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cliff. the president said he couldn't understand why john boehner was detouring to plan b because the differences are narrow enough that they can still work it out. >> i've said i'm willing to make some cuts. what separates suss probably a few hundred billion dollars. the idea that we would put our economy at risk because you can't bridge that gap doesn't make a lot of sense. >> the smackdown from john boehner came shortly afterwards. it was short and sweet. he spoke for less than a minute and he said the onus is going to be on president obama if we go over the fiscal cliff. >> tomorrow the house will pass legislation to make permanent tax relief for nearly every american, 99.81% of the american people. and then the president will have a decision to make. he can call on senate democrats to pass that bill or he can be responsible for the largest tax increase in american history. >> now bainor aides say they're confident they can pass their plan b, which would raise taxes only on incomes of a
cliff. the president said he couldn't understand why john boehner was detouring to plan b because the differences are narrow enough that they can still work it out. >> i've said i'm willing to make some cuts. what separates suss probably a few hundred billion dollars. the idea that we would put our economy at risk because you can't bridge that gap doesn't make a lot of sense. >> the smackdown from john boehner came shortly afterwards. it was short and sweet. he spoke for less than a...
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Dec 8, 2012
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with the countdown to the fiscal cliff at 24 days, the "washington post" reporting today that federal agencies are sharpening their plans before spending cuts, layoffs, fur lows and just general old down sizing. all if president obama fails to strike a deal, which i believe is increasingly likely. let's brung in distinguished fellow at the heritage foundation, form congressman old friend. ernie, i'm not shedding any tears over this. i think these fur lows and layoffs and downsizing is just what they need. >> i understand that the labor department report which came out today shows that 73% of the new jobs created since june are government jobs. we have 20 million people working for government at the federal, state and local level right now. and i can't tell you the exact mix between federal, state, local, but i do know that a huge number of the people who are on t payrolls are actually getting the money for those programs from the federal government. so the federal government should stop subsidizing states and cities and for that matter should not be putting extra burdens upon them wit
with the countdown to the fiscal cliff at 24 days, the "washington post" reporting today that federal agencies are sharpening their plans before spending cuts, layoffs, fur lows and just general old down sizing. all if president obama fails to strike a deal, which i believe is increasingly likely. let's brung in distinguished fellow at the heritage foundation, form congressman old friend. ernie, i'm not shedding any tears over this. i think these fur lows and layoffs and downsizing is...
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May 15, 2012
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cliff of expiring tax cuts, automatic spending cuts an the need to raise the debt limit. but today many of the biggest players in washington at least began talking about it at a fiscal summit sponsored by the foundation of former commerce secretary and wall street executive >> peter: son. treasury secretary tim geithner led off by repeating the administration's call for a balanced deficit reduction plan that would call on wealthy americans to pay more. >> this set of expiring tax measures and automatic spending cuts should be a very powerful incentive for people on both sides of the aisle to figure out a balanced package of deal with these kind of things. again, it is not -- it's not that complicated. we can do it without asking americans to bear an unacceptable burden, unacceptable pain for an economy still healing from a crisis. if you do it in a balanced way with the reforms spread across the economy as a whole. >> but house speaker john boehner blasted president obama and the administration for refusing to accept needed spending cuts in the so-called grand bargain the
cliff of expiring tax cuts, automatic spending cuts an the need to raise the debt limit. but today many of the biggest players in washington at least began talking about it at a fiscal summit sponsored by the foundation of former commerce secretary and wall street executive >> peter: son. treasury secretary tim geithner led off by repeating the administration's call for a balanced deficit reduction plan that would call on wealthy americans to pay more. >> this set of expiring tax...
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Dec 4, 2012
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the republicans may make another compromise with their latest counter offer on the fiscal cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. president obama issues a stern warning to syria and i quote the world is watching. and there will be consequences if syria uses these wmds. have we just committed ourselves to another war? and the gun control debate is squarely back in the spotlight tonight after the murder/suicide by nfl player in kansas city, second amendment instead of blaming the sick people who use them. republicans have responded to a fiscal cliff counter offer to president obama. eamon javers joins us now from washington with all the details. good ev
the republicans may make another compromise with their latest counter offer on the fiscal cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking...
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Dec 22, 2012
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if the fiscal cliff goes to january, the middle class tax cuts won't be extended, right? they end. but if you're a republican in the house, you'll be voting for a tax reduction. in other words, the first they expire on december 31st. i want to make this point, it's a simple point, but it sounds complicated. they expire. then january 1st or whenever. republicans can vote for a tax cut to put them back in the place. that could be redempive. that could be the spiritual redemption. >> the first of two is we were talking, roughly speaking about $1 trillion, $1.2 trillion in tax increasesment on january 1st, we're going to be talking about a $3.8 trillion tax reduction. the biggest, i think, listen, i don't think the republicans acquitted themselves as terrible as some were making out yesterday. but what they did do that was quite poor. if you're president obama from a legacy standpoint, you got a big boost right now. what i mean by that is on january 1st, the bush tax cuts are no more. >> right. >> going forward for the rest of our lives, we're going to be talking about the largest tax
if the fiscal cliff goes to january, the middle class tax cuts won't be extended, right? they end. but if you're a republican in the house, you'll be voting for a tax reduction. in other words, the first they expire on december 31st. i want to make this point, it's a simple point, but it sounds complicated. they expire. then january 1st or whenever. republicans can vote for a tax cut to put them back in the place. that could be redempive. that could be the spiritual redemption. >> the...
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Sep 11, 2012
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agree to tax the rich more, avo avoiding pentagon cuts, the moody's down grade and the fiscal cliff. they say it's republicans giving up and adjourning next week. >> like you're facing a catastrophe and saying, we just don't have time to address that. we have to go home and campaign. >> reporter: democrats will, too. job one is getting re-elected. >> it looks like facing the fiscal cliff will have to wait again. larry, this time until november. back to you. >> many thanks, nbc steve handelsman. my message for washington tonight, why can't you all extend this congressional session in order to do the people's fiscal business and stop playing recessionary politics. it will save the country, it's time to make a deal, to avoid a ngs and stop the looming tax and fiscal cliff. think about this. here is a calendar. the moment the continuing resolution is passed, probably thursday or friday, congress will leave town for the election. nothing more will get done. then, after the election, of course, they're all ready. it all ends up to 12 days on the schedule after the election. therefore, the
agree to tax the rich more, avo avoiding pentagon cuts, the moody's down grade and the fiscal cliff. they say it's republicans giving up and adjourning next week. >> like you're facing a catastrophe and saying, we just don't have time to address that. we have to go home and campaign. >> reporter: democrats will, too. job one is getting re-elected. >> it looks like facing the fiscal cliff will have to wait again. larry, this time until november. back to you. >> many...
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Dec 6, 2012
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as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple dozen republican house members signed a bipartisan letter that says let's look at all kinds of tax rates, not just the deduction, but tax rates in relation to other spending. so you've got republicans jumping ship on both sides. >> that's exactly right. the speaker is going to have to make a critical choice, because the lines are being drawn in the sand right now here on capitol hill. you have the conservatives who are being booted off the committee. they're very angry with the speaker. they're not going to move at all on tax rates. but you've got a lot of moderates in the republican conference from th
as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple...
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Nov 10, 2012
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nobody's talking spending cuts. >> i think in the context of the fiscal cliff the answer is probably no, but in the context of sequestration which is the other half of this fiscal cliff. the answer has to be yes, and we have to save about $109 billion this year. some of that could be with additional revenue and my thought is if you're going to give the additional revenue on the fiscal cliff side then you try to achieve the savings of $109 billion and by the way, that's not that hard to do and that would avoid the sequestration, and those are the components of the deal here that could be struck. >> so you think -- you think -- let me just understand this, because this is the first time i've heard this. you think they'll throw out the automatic budget cuts and insert a new set of budget cuts that have bipartisan support? that sounds like a very difficult thing to me. >> it's not that hard and, yes, i do and here's why. the super committee didn't come up with the $1.2 trillion in cuts over ten years. as a result, we have to cut $109 billion out of the budget each year for ten years. wel
nobody's talking spending cuts. >> i think in the context of the fiscal cliff the answer is probably no, but in the context of sequestration which is the other half of this fiscal cliff. the answer has to be yes, and we have to save about $109 billion this year. some of that could be with additional revenue and my thought is if you're going to give the additional revenue on the fiscal cliff side then you try to achieve the savings of $109 billion and by the way, that's not that hard to do...
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Jun 7, 2012
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we are now facing this fiscal cliff, talking about the extension of the bush tax cuts. first of all, why do they even call it a bush tax cut extension? it is now the tax code. let's face it. all right? so any kind of an increase is a tax increase, plain and simple. it's no longer rolling back things. >> right. >> i think for us to fool ourselves into thinking anything else is wrong. >> last few moments, jack, right now this is a tricky market. i don't think there's a lot of confidence in the market. what's your single favorite investment, 25 seconds? >> i like buying financials when everybody else is selling them. i think that they're going to surprise people the second half of the year. i think europe gets its act together and we are very, very pleased with what our banks do, which are, by the way, in great shape. >> so actually you're a bull? >> i'm a bull. i think we're on the bottom of the range, 1260 in the s&p is the lower end of the range. lower your protection and buy the market. >> thank you very much for that. that's it for this evening's show. thanks for watc
we are now facing this fiscal cliff, talking about the extension of the bush tax cuts. first of all, why do they even call it a bush tax cut extension? it is now the tax code. let's face it. all right? so any kind of an increase is a tax increase, plain and simple. it's no longer rolling back things. >> right. >> i think for us to fool ourselves into thinking anything else is wrong. >> last few moments, jack, right now this is a tricky market. i don't think there's a lot of...
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Dec 29, 2012
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the debt limit and not the fiscal cliff. >> what's it going to look like when we have this fight about the debt ceiling. >> robert just said that the one thing that has been brought up is the debt ceiling as part of the negotiation and the other thing that they've mentioned are the spending cuts and he'll make an offer to put those on the table and part of that is that these are not popular right now and we could have an intellectual exercise about whether they should be, about whether it's proper or not, but the political reality is barack obama just wants to campaign and the liberals did very well. ? they didn't win the house. >> what's that? >> they didn't win the house. >> you're absolutely right. you're absolutely right. from a messaging perspective, from a messaging perpective, was there not an aacclimation. >> i have to get jimmy in here. >> eebt ally the financial markets will send a message. you need to do something about this debt and then we're talking draconian cuts and draconian tax increases and why we're not doing it now. >> what's your new year's resolution and what sho
the debt limit and not the fiscal cliff. >> what's it going to look like when we have this fight about the debt ceiling. >> robert just said that the one thing that has been brought up is the debt ceiling as part of the negotiation and the other thing that they've mentioned are the spending cuts and he'll make an offer to put those on the table and part of that is that these are not popular right now and we could have an intellectual exercise about whether they should be, about...
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. >>> if congress does not intervene to avoid the fiscal cliff, almost 90% of americans would receive a tax hike with an average increase of almost $3,500 per household. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. welcome to the world leader in derivatives. welcome to superderivatives. >>> it is latest investors business daily po
. >>> if congress does not intervene to avoid the fiscal cliff, almost 90% of americans would receive a tax hike with an average increase of almost $3,500 per household. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly...